Bitcoin just slipped below the bear-market line traders cannot ignore
Bitcoin has slipped below its 200-week weighted moving average, turning a long-term cycle marker into a live test of demand. BTC traded around $60,238, about $2,555 under Newhedge’s $62,383 level, after a sharp weekly and monthly decline. The key question is whether price quickly reclaims the low-$62,000 area or stays below it long enough for the level to become resistance. The break happened alongside heavy ETF outflows, including about $1.61 billion in net redemptions over three sessions, suggesting institutional demand weakened at the same time. Macro conditions are also less supportive: the Fed left rates unchanged, inflation remains elevated, and labor data stay resilient, limiting easy rate-cut relief for risk assets. A reclaim would suggest forced selling temporarily pushed BTC through a watched support zone. Continued weakness and redemptions would imply acceptance of a lower range. The 200-day average near $84,165 remains far above spot, so this is only the first step in any trend repair.
